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Windsor Brokers - Short Term Technical Analysis for Majors (09:20 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 5, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Extended gains through 1.4250 to reach 1.4280 so far, ahead of correction. Near-term studies remain supportive for fresh attempt higher, and through 1.4280 to target 1.4373 Fibonacci level. Downside, 1.4160/00 underpin the advance, while 1.3990 remains key support.

    Res: 1.4248, 1.4280, 1.4295, 1.4373
    Sup: 1.4160, 1.4101, 1.4057, 1.3990

    [​IMG]

    GBP/USD
    The latest rally tested 1.63 zone, just under key trendline resistance at 1.6313. Positive near-term studies and recent break through 1.6105, keep the focus higher. Clearance of 1.6313 to open 1.6459, 2010 high, posted 19 Jan. 1.6137/1.6088 zone is expected to hold dips, while break lower would delay bulls.

    Res: 1.6297, 1.6313, 1.6395, 1.6459
    Sup: 1.3137, 1.3088, 1.6031, 1.6007

    [​IMG]



    USD/JPY
    Maintains negative tone as recovery attempts from 80.24 low failed at 81.59. The latter is expected to cap for now, with immediate risk is seen for break through 80.57, yesterday’s higher platform to target 80.24, and below here to open 79.75 historical low.

    Res: 80.98, 81.21, 81.59, 81.79
    Sup: 80.57, 80.45, 80.24, 80.00

    [​IMG]



    USD/CHF
    Break below 0.9700 and 0.9656, previous higher platform/61.8% reversal, confirms the end of recovery phase off 0.9461 and resumes the underlying bear-trend. Market has for reached 0.9552, just ahead of 0.9539, 18 Oct low, break of which would open way for final push to retest key near-term support at 0.9461. Upside, 0.9693/0.9734 expected to cap.

    Res: 0.9661, 0.9693, 0.9734, 0.9768
    Sup: 0.9552, 0.9539, 0.9461, 0.9400

    [​IMG]
     
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